 "South Indian Bank share price jumps 6% on strong June quarter show")
South Indian Bank in focus: Shares of South Indian Bank rose as much as 6.26 per cent to hit an intraday high of Rs 28.16 per share on Friday.
The uptick in share price came after the lender posted a strong set of results in the June quarter (Q1FY25).
The bank's standalone net profit rose 45.4 per cent to Rs 294.1 crore in Q1FY25, as opposed to Rs 202.4 crore in Q1FY24.
Net interest income (NII) rose 7.2 per cent to Rs 866 crore during the quarter. Total income jumped 14.7 per cent year-on-year (Y-o-Y) to Rs 2,736.13 crore during the quarter.
Provisions (other than tax) and contingencies stood at Rs 113 crore in Q1 FY25, down 43.1 per cent from Rs 198.5 crore in Q1 FY24.
Banks retail deposit jumped 8.37 per cent YoY to Rs 99,745 crore in Q1 FY25 from Rs 92,043 crore in Q1 FY24.
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Gross advances grew Rs 8,478 crore in Q1FY25, from Rs 74,102 to Rs 82,580 crore marking an increase of 11.44 per cent on Y-o-Y basis.
CASA was at Rs 33,196 crore as on 30 June 2024, up 6.5 per cent Y-o-Y. Additionally, the CASA ratio stood at Rs 32.0 per cent as on 30 June 2024, as against 32.64 per cent as on 30 June 2023.
During the quarter, the gold loan portfolio jumped 12.7 per cent YoY from Rs 14,478 crore to Rs 16,317 crore.
On the asset quality front, the ratio of gross NPAs to gross advances was at 4.50 per cent as on 30 June 2024 as compared to 5.1 per cent as on 30 June 2023.
The ratio of net NPA to net advances stood at 1.4 per cent as on 30 June 2024 as against 1.9 per cent as on 30 June 2023.
Gross NPA stood at Rs 3,719.87 crore as on 30 June 2024 as against Rs 3,620.34 crore as on 31 march 2024 and Rs 3,803.87 crore as on 30 June 2023.
Provision coverage ratio (PCR) excluding write off increased by 390 bps from 65.2 per cent to 69.1 per cent Y-o-Y basis. While the provision coverage ratio (PCR) including write improved by 267 bps from 76.5 per cent in Q1FY25 to 79.2 per cent in Q1FY24.
At 12:48 PM, shares of the bank were trading 3.09 per cent higher at Rs 27.32. In comparison, BSE Sensex was trading 0.50 per cent lower at 80,940.13 levels.